Jennison Associates LLC Has $13.61 Million Stock Holdings in Warby Parker Inc. (NYSE:WRBY)

Jennison Associates LLC increased its position in Warby Parker Inc. (NYSE:WRBY) by 17.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000,138 shares of the company’s stock after buying an additional 146,697 shares during the period. Jennison Associates LLC’s holdings in Warby Parker were worth $13,612,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in WRBY. TimesSquare Capital Management LLC acquired a new position in Warby Parker during the 4th quarter valued at about $9,542,000. Vanguard Group Inc. boosted its stake in shares of Warby Parker by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock worth $119,258,000 after buying an additional 607,352 shares during the last quarter. AIA Group Ltd boosted its stake in shares of Warby Parker by 49.8% in the 4th quarter. AIA Group Ltd now owns 164,861 shares of the company’s stock worth $2,325,000 after buying an additional 54,839 shares during the last quarter. Invenomic Capital Management LP purchased a new position in shares of Warby Parker in the 4th quarter worth approximately $3,432,000. Finally, NBC Securities Inc. boosted its stake in shares of Warby Parker by 25.5% in the 4th quarter. NBC Securities Inc. now owns 37,838 shares of the company’s stock worth $533,000 after buying an additional 7,680 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WRBY. UBS Group boosted their target price on Warby Parker from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, May 10th. Telsey Advisory Group reiterated an “outperform” rating and issued a $19.00 price objective on shares of Warby Parker in a research note on Thursday, May 9th. Finally, Morgan Stanley upped their price objective on Warby Parker from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.50.

Insider Activity at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 15,709 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $17.04, for a total value of $267,681.36. Following the sale, the chief financial officer now owns 166,879 shares in the company, valued at approximately $2,843,618.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $15.66, for a total value of $86,130,000.00. Following the completion of the sale, the insider now owns 9,444,023 shares of the company’s stock, valued at approximately $147,893,400.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Clive Miller sold 15,709 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $17.04, for a total transaction of $267,681.36. Following the sale, the chief financial officer now directly owns 166,879 shares of the company’s stock, valued at approximately $2,843,618.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,848,537 shares of company stock worth $91,938,722. 26.55% of the stock is owned by corporate insiders.

Warby Parker Stock Up 0.9 %

Shares of WRBY stock traded up $0.14 during trading hours on Tuesday, hitting $15.60. 336,596 shares of the company’s stock traded hands, compared to its average volume of 1,281,975. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -32.60 and a beta of 1.82. The stock’s fifty day simple moving average is $15.74 and its two-hundred day simple moving average is $14.14. Warby Parker Inc. has a 12-month low of $9.83 and a 12-month high of $17.95.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Warby Parker had a negative net margin of 7.89% and a negative return on equity of 13.19%. The business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $196.25 million. On average, equities analysts forecast that Warby Parker Inc. will post -0.09 earnings per share for the current fiscal year.

About Warby Parker

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.